Bad morning on ISEQ as Ryanair plummets

Most of the major companies on the ISEQ saw a loss this morning, with the overall index falling 80.28 points to 5347.48 before 10.30am.

Ryanair was down 25c (5.1%) after filing a complaint to London’s high court about BAA’s ‘abuse’ of fuel levies.

Elan fell 97c (4.9%) to €18.89, even though the company is optimistic about trials for a new Alzheimers treatment.

Iona Technologies saw a massive drop of 31c (11.5%) to €2.39.

The financials saw more modest losses, with AIB down 10c at €12.27, Bank of Ireland slipping 15c to €10.61, Anglo down 8c at €12.90 and IL&P losing 12c to stand at €12.35.

Food company IAWS was static at €9.86, after announcing the appointment of UCD professor Patrick Wall to the company’s board.

Exploration company MinMet was also unchanged at €0.05, after being bought into by South African company Gold Fields.

The most heavily-traded shares were Ryanair, AIB, Elan, BoI and building company Heiton, which was steady at €1.27.